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Insider Threat

A California man named Ronald Charles Reed has been sentenced to prison for partnering with Wells Fargo employees to steal customer data in connection with the bank’s fake accounts scandal, the Journal reported. “Mr. Reed pleaded guilty in March to bank fraud and aggravated identity theft, the U.S. Attorney’s Office said. Mr. Reed, also known…

Since the heist became public knowledge through media reports in the Philippines, nearly a month after it happened, two theories have been suggested to explain how the thieves managed to send the New York Fed 35 properly authenticated SWIFT transfer orders. (The Fed executed five, leading to a transfer out of Bangladesh Bank accounts of…

Unsettling Truths, Unanswered Questions in Morgan Stanley Breach – American Banker Article. Excellent article. Registration may be required to access the article. I’ve mentioned previously that for the past several months we have seen heightened attention by regulators across the globe directed at insider threat management. We expect this attention to continue and come up in regulator…

Morgan Stanley | Press Release | Morgan Stanley Says Employee Misappropriated Wealth Management Data. We are seeing increased attention to insider threat risks by regulators, generally, across the globe. There have been several incidents in financial services over the past several months highlighting the risk. Regulators have taken notice.